GBP/JPY may fall 141 - 208 pips

189.43 is our pivot point.

Our preference

Eye 186.45.

Alternative scenario

Above 189.43, look for 190.56 and 191.23.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is below its 20 period moving average (188.69) but above its 50 period moving average (188.40).

Supports and resistances

191.23 **

190.56 *

189.43 **

188.98

188.53 last

187.12

186.45 **

185.78 *

185.11 **

Number of asterisks represents the strength of support and resistance levels.